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"But there is no need to be overanxious about the risks as China has a deposit insurance scheme. By taking measures, such as appointing another bank to temporarily manage the bank which undergoes the mergers and acquisitions process, regulatory authorities will help small and medium-sized banks make a smooth transition of liquidity," he said.

"China is a really big country," he adds, noting that to learn more about the Middle Kingdom is why he applied for an additional year's study at Tsinghua University, one of the most famous universities in China.

"Canadians can feel confident that the review process was rigorous and that we have strong monitoring systems in place. Health Canada and the Public Health Agency of Canada will closely monitor the safety of the vaccine once it is on the market and will not hesitate to take action if any safety concerns are identified," Health Canada said in a statement.

"China is undoubtedly the first country to show clear signs of economic recovery following the COVID-19 pandemic," he added.

"But we need governments, international financial institutions, and the private sector to work with us to take full advantage of these advances," he said, listing four ways philanthropic capital can be used.